The latest Business Benchmarks report from the Minnesota Chamber of Commerce presents a detailed analysis of the state’s economy. This comprehensive report consolidates economic data in an easy-to-read format for business professionals, highlighting both strengths and challenges.
The report outlines several strengths of Minnesota’s economy, including its long-term stability, favorable cost of living, strong legacy of innovation, improvements in infrastructure, and recovering labor force. However, it also identifies several challenges that the state faces, such as slow economic growth, high taxes and regulations, increasing cost of doing business, and negative net domestic migration.
Despite these high-quality strengths, the report suggests that they have not translated into meaningful economic growth for the state. This contradicts some aspects of the state’s economic position. Nevertheless, this report provides valuable insights into the current economic landscape in Minnesota and sheds light on both the positive aspects and the challenges that the state faces. To access the full report, you can find the link here.